With the Senate rushing to pass the big $300B "bailout" for lenders and some homeowners, I'd like to propose another option that won't cost the TAXPAYERS a DIME. But it will improve the current NOD's and future foreclousre ratios while stabilizing the real estate market by keeping people in their homes.
It's called "Loss Mitigation". Currently I am working with a loss mitigation specialist who has been very successful in obtaining rate reductions, rate locks, forgiveness of default payments and even principal reductions for clients. Individuals trying to resolve the issue alone have found it difficult if not next to impossible to even talk to their lender's loss mitigation department but when you have an expert in the field contacting the lender you get results.
The program is designed to assist homeowners who are unable to refinance because their home has lost equity or they have a high LTV, have mortgage lates on their credit report or their interest rate has adjusted or will soon adjust.
Walking away is not the answer especially when you have an alternative resolution, keeping your home with reduced payments. Financial hardhship shouldn't be the reason you lose your home. In most cases a reasonable repayment plan can be achieved by our loss mitigation expert That's their specialty, keeping people in their homes and satisfying the lender requirements.
Before you spend another day worrying contact an expert in "Loss Mitigation" stay in your home and get back on track. There are many charlatans in the field who make promises. Without analyzing your situation no one can make recommendations for solutions to your financial situation. Contact a specialist in "Loss Mitigation" for best results.